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April 1, 2013 Deal Watch

Hanover relocates within Windsor’s Waterside Crossing

Contributed Photo 5 Waterside Crossing, foreground, flanked by 7 Waterside, both in Windsor.
40 Cross Street med-office building will get a redo.

Hanover Insurance Group signed two leases covering a combined 34,000 square feet for permanent space in the 5 and 7 Waterside Crossing complex in Windsor.

One lease — for about 26,900 square feet — puts Hanover's AIX Group on the entire second floor at 5 Waterside. The other is for about 7,200 square feet on the second story of 7 Waterside for Hanover's regional offices.

Both buildings are owned by major Connecticut landlord, Griffin Land.

Both operations have been housed next door, at 2 Waterside Crossing. Griffin doesn't own that building.

CB Richard Ellis represented Griffin. CLW Real Estate Services was tenant broker.

• • •

Norwalk med-office redo

The 40 Cross Street medical office in Norwalk has been sold for $13.3 million and will undergo a $650,000 renovation, realty authorities say.

MCP Medical LLC, an investment affiliate of Boston's Marcus Partners, bought the 70,000-square-foot building for an undisclosed sum from Cross Street Medical Building LLC.

Marcus Principal David Fiore said upgrades will include new Class A finishes to the lobbies and common areas, new and faster elevators, granite exterior entrance walkways and curbs, signage and landscaping.

Marcus Partners management team will service the property themselves from its Wilton regional office.

Fiore said his firm continues to prowl for suitable commercial acquisitions in office, medical-biomedical, R&D and industrial categories throughout Connecticut, northern New Jersey, Westchester County and Long Island, N.Y.

• • •

‘Vette-parts facility sold

Legendary aftermarket-Corvette builder E. Reeves Callaway sold off a 6,300-square-foot distribution building in Old Lyme recently for $442,500.

Nancy A. Larson bought the 2.5-acre property at 2 High St. for her grade-school book publishing business, realty sources said. Larson intends to renovate the building before occupying.

Callaway's East Coast Corvette speed shop at one time used the next-door facility to warehouse original-equipment parts — mufflers, shocks, tires, etc. — removed from vehicles and replaced with sturdier, after-market hardware, said Branford's The Geenty Group, Realtors, senior broker Kevin Geenty.

The Geenty Group represented Callaway. Coldwell Banker Commercial of Old Lyme was Larson's agent.

• • •

Good Sports renews

Good Sports Inc., a wholesale distributor of motorcycle apparel and accessories, has renewed its leases at 227 and 349 Progress Drive in Manchester.

The facilities, 9,900 square feet and 30,000 square feet respectively, house Good Sports' headquarters and manufacturing/warehouse operations.

Sentry Commercial represented Good Sports in both lease renewals.

• • •

Madison lease

The School of Rock leased a 3,000-square-foot Madison building that will be converted to classrooms.

Davis Realty LLC owns the property at 845 Boston Post Road.

New Haven Group represented the tenant; O,R&L Commercial the landlord.

• • •

GAD’s Plainville space

GAD Inc. leased 2,400 square feet of industrial space at 110 Robert Jackson Way in Plainville.

R. Calabrese Agency LLC represented GAD.

Landlord Three Queens One King LLC had Berlin's Commercial Real Estate Group as its broker.

• • •

Elm City c-store space

The owner of Smoker's Market 2 leased 1,364 square feet in New Haven for a convenience store.

The Geenty Group, Realtors, was a broker in the lease.

Owner Khawaja Sheraz plans to open in coming months in space at 118 Grand Ave. from landlord Three Brothers LLC.

Deal Watch wants to hear from you. E-mail it, along with contact information to: Greg Seay is the Hartford Business Journal web editor.

• • •

Mistras’ Tradeport renewal

Mistras Group Inc. has renewed and extended its lease in one of the buildings situated in the East Granby section of the New England Tradeport.

Mistras, a New Jersey provider of non-destructive testing services, software and systems, currently has about 17,000 square feet, or about a third, of the footprint at 16 International Drive.

Griffin Land is landlord.

The 600-acre tradeport also straddles Windsor.

Deal Watch wants to hear from you. E-mail it, along with contact information to: Greg Seay is the Hartford Business Journal web editor.

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